The NZX 50 was almost flat, trading around 12,536 in morning trade on Tuesday, after retreating for the 4th straight session, as gains in materials, energy, and consumer staples offset falls in financials, utilities, and industrials. Traders remained cautious amid escalating tensions in the Middle East while continuing to monitor developments after Iran launched missiles at a US air base in Qatar. On a positive note, Fed Governor Michelle Bowman said the central bank should consider cutting its key rate as soon as its July meeting. In the US, Wall Street closed in the green overnight due to plunges in oil prices. Meanwhile, President Trump announced a ceasefire timeline and said he will end the war between Iran and Israel. Domestically, traders awaited the release of trade data and consumer mood, which is due this week. Mainfreight surged 2.7%, Westpac Banking Corp. rose 0.7%, and Ebos Group gained 0.5%, while Auckland International Airport and A2 Milk fell by 0.8% and 1.0% each.